Washington Trust Bancorp, Inc. (NASDAQ:WASH) Stock Position Lifted by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC increased its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH - Free Report) by 15.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 103,832 shares of the financial services provider's stock after purchasing an additional 14,028 shares during the period. Aptus Capital Advisors LLC owned 0.61% of Washington Trust Bancorp worth $3,344,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Washington Trust Bancorp by 139.1% during the first quarter. BNP Paribas Financial Markets now owns 9,560 shares of the financial services provider's stock worth $257,000 after purchasing an additional 5,562 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Washington Trust Bancorp by 47.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,930 shares of the financial services provider's stock valued at $643,000 after purchasing an additional 7,650 shares during the period. Empowered Funds LLC grew its stake in Washington Trust Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 39,717 shares of the financial services provider's stock valued at $1,068,000 after acquiring an additional 2,975 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Washington Trust Bancorp by 10.6% in the first quarter. ProShare Advisors LLC now owns 291,461 shares of the financial services provider's stock worth $7,834,000 after buying an additional 27,979 shares in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of Washington Trust Bancorp by 86.3% during the first quarter. EntryPoint Capital LLC now owns 1,585 shares of the financial services provider's stock worth $43,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company's stock.

Washington Trust Bancorp Trading Down 0.7 %

Shares of WASH traded down $0.28 during mid-day trading on Thursday, reaching $39.05. 98,216 shares of the company's stock traded hands, compared to its average volume of 95,289. The stock's 50-day moving average is $33.40 and its two-hundred day moving average is $30.00. The stock has a market cap of $666.58 million, a P/E ratio of 14.73 and a beta of 0.77. Washington Trust Bancorp, Inc. has a 12 month low of $24.11 and a 12 month high of $40.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.55%. During the same quarter in the prior year, the firm earned $0.65 EPS. Research analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend was Tuesday, October 1st. Washington Trust Bancorp's dividend payout ratio (DPR) is currently 83.90%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upgraded shares of Washington Trust Bancorp from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Tuesday, October 22nd.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.